Aurobindo Pharma shares gain on USFDA approval for diarrhoea, allergy drugs

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New Delhi | Updated: December 17, 2015 4:29:01 PM

At 1:39 pm, the shares of Aurobindo Pharma were trading 1.76 per cent up at Rs 834.75 on BSE, while on NSE, the scrip gained 1.68 per cent at Rs 834.25. Sensex was up 0.14 per cent at 25,530.96.

aurobindo pharmaAt 1:39 pm, the shares of Aurobindo Pharma were trading 1.76 per cent up at Rs 834.75 on BSE, while on NSE, the scrip gained 1.68 per cent at Rs 834.25. Sensex was up 0.14 per cent at 25,530.96. (Reuters photo)

Aurobindo Pharma shares gained nearly 2 per cent intra-day on Thursday as the pharma major received USFDA’s approval to manufacture and market Loperamide Hydrochloride tablet and Methylprednisolone Sodium Succinate injection used for treating diarrhoea and allergy.

At 1:39 pm, the shares of Aurobindo Pharma were trading 1.76 per cent up at Rs 834.75 on BSE, while on NSE, the scrip gained 1.68 per cent at Rs 834.25.

Later, the share price of Aurobindo Pharma settled 1.51 per cent up at Rs 832.75.

The first, Loperamide Hydrochloride tablet, is used to control symptoms of diarrhoea, including travelers’ diarrhoea. The approved product has an estimated market size of USD 9.7 million for the 12 months ending October 2015, according to IMS Health.

The other, Methylprednisolone Sodium Succinate injection, is a lyophilised product used in the treatment of various medical conditions such as allergic states and disorders. The approved product – USP 40 mg/vial, 125 mg/vial, 500 mg/vial, and 2 g/vial – has an estimated market size of USD 102 million for the 12 months ending October 2015, as per IMS Health.

Aurobindo now has a total of 224 ANDA approvals (196 final approvals, including 10 from Aurolife Pharma LLC and 28 tentative approvals) from USFDA.

In the past one year, the share price of Aurobindo Pharma surged 49.60 per cent to Rs 820.35 on December 16. The benchmark index BSE Sensex fell 4.81 per cent during the same period.

The promoters holding in the company stood at 53.92 per cent while institutions and others held 34.97 per cent and 11.11 per cent, respectively.

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